On Ethereum’s 1-hour chart, it retraced near 2380 and then gave a rebound. The candlestick is basically retracing, and it has produced a lower shadow. It has temporarily turned bullish and has regained the ground for now. The bulls still have some volume and momentum behind them, and there is a trend toward further recovery in the evening. Friends who are still in cash and haven’t entered yet can wait to choose an entry at a high level. For friends who have already entered, positions should be relatively light—wait for opportunities to add on dips. If you opened with a heavier position, there’s no need to bet on the market; consider cutting losses and exiting instead.

In terms of indicators, the small timeframes are all in the overbought phase, but after the overbought phase, it hasn’t brought what we expected—there is a volume-expansion pullback from the bears. In this current overbought phase, there is still a possibility of further bullish continuation. Above 2400, it tested upward today. It’s expected that tonight will still maintain a structure of upward consolidation, and then probe higher again to test the top. After the U.S. stock market opens, the direction will most likely still lean toward an adjustment after a push up—wait for a chance to enter and build a short position during the high-level pullback.

Ethereum has been positioned to short in advance around 2420, targeting 2380-2330.#比特币反弹 $ETH